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Revenues Down, but U.S. Energy Companies on Pace to Lift Production to Record Highs
August 9, 2023–Researched by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)–Energy companies in North America continue to express optimism about production, even against the lower price scenario that prevailed during the first half of the year, suggesting a level of upstream resilience remains.
Driven primarily by operations in the Williston Basin, which encompasses the Bakken Shale formation that straddles the U.S.-Canadian border, Northern Oil & Gas Incorporated (NYSE:NOG) (Minnetonka, Minnesota) turned in record production during the second quarter of the year.
Other companies soldering on with projects, despite weak quarterly results, include Exxon Mobil Corporation (NYSE:XOM), EOG Resources Incorporated (NYSE:EOG) and Pioneer Natural Resources (NYSE:PXD).
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